Augusta County: M. W. Davenport to John H. McCue,
January 27, 1852
Summary:
M. W. Davenport updates McCue on the insurance policies of Mr. Woodwar, Mr.
Imboden, and Mr. White. Davenport also offers advice about insurance
policies.
J H McCue Esq.
27 January 1852
Office of the Lynchburg Hose
& Fire Insurance
Company
Lynchburg
Dear Sir
Yours of the 17th Inst. was duly received. I forward to you by mail of the 24th Inst. Policies for Messrs B. & J Crawford and A. M. Simpson, which you will hand over to the respective parties.
Mr Woodwards application will be taken thus. Furniture of Hotel to amount of
Furniture $1500 @ 1 1/2 percent}
Hotel 1000 @ 2 1/2 percent} for one
year
Shed 300 @ 2 1/2 percent}
Risks on Hotels and Stables are never very desirable and when taken we wish to have as small amount as possible. The amounts stated above may be less than Mr Woodward thinks ought to be taken, but we would not desire to take a greater amount, and for a term of one year only. This will be best for Mr Woodward as well as for this Company. He might want to make some alterations, changes or additions onto the buildings, all of which according to the terms of the policy, must be by consent of the Company in such cases, the Company and himself might not perhaps agree on making an alteration and thereby submit him to inconveniences. When property is insured for one year the policy can be renewed without any other charge than the [unclear: note] premiums at former rates unless there be some material change in the property or contiguous building render a higher premium [deleted: ne] necessary, and the Company having an agent on the spot no inconvenience will attend the renewal once a year.
Yours of the 19th also at hand, we are satisfied to take Mr
Imbodens application at 1 1/2 percent as you think that a fair rate. Please
state the amount you will put on the house, and how much on the House-hold furniture, Bedding and wearing apparel,
making up the $2000. I am in receipt also of yours of the 20th Policies will be sent for Messrs White & Co and Mr White.
You will please let me know what amount Mr White wishes insured on his stable
building, how much on Horses, how much on Carriage and how much on Forage and
Grain. it is proper that the policy should express the amount insured on each
particular subject -- it might happen that the stable might burn when the Horses
and carriage were out, and some difficulty might arise in adjusting the loss, if
the insurance covers the specified amount on all the
[page 2]
subjects
collectively, but when each subject is put down a certain amounts and one lost
there is no difficulty in settling the loss for it speaks for itself.
In all cases where insurance is wanted on a building and contents let the building be put at a certain amount, and the contents also separate amount this prevents difficulty in settling the loss when it is partial, for instance a building insured might be damaged by fire without any injury to the contents, all that would be to do in the case would be to find what amount of damage was done to the building without reference to any other subject insured, and not damaged -- this is to be observed in insuring two or more buildings a specified amount on each respective building should be fixed these things however you will very soon attain to by practice and they will readily suggest themselves to you whenever you are called upon with an application for insurance. I am now very much occupied in preparing for the annual settlement of our business the 1st February, after that time I will first leasure moment make out and send over to you one of two blank forms which you will find servicible
Very truly
MW Davenport, Scty.
P. S. I now send Policy for Messrs White & Co the one for Mr J. F. J. White will be forwarded as soon as I get a return from you fixing the amounts on his Hotel and contents.
